On February 8, 1898, the cornerstone of the 80×120 feet, three-story brick building was laid "with Masonic honors." Several four-room mill houses were built by April 1900, and were rented out at about $3 per month to the workers of the mill.

Local black laborers and artisans initially accepted stock as payment for their work in construction of the mill, but most soon decided to accept only cash instead of more stock. Many workers quit due to the inability of Coleman to raise the necessary amount of cash at that time

The mill building was finally completed in 1901. In July of that year, Coleman informed investor Washington Duke of Durham that the mill was operating successfully. Black workers were hired and had the chance to learn industrial skills. But the mill soon began to have financial problems, mostly due to the high price of cotton, which reduced profits for all manufacturers. In 1902 its operations were temporarily shut down

n 1904, the company was unable to remain afloat financially, and was affected by the loss of leadership when Coleman died. Mainly due to these problems, the company officers advertised the mill for sale in July 1904. It was purchased by Washington Duke of Durham for $10,000 at the "sheriff's sale." Duke sold the property in 1906 for $13,000

The original mill structure was integrated into Fieldcrest Cannon Plant #9, northeast of the intersection of Main Street and Highway 601 South in Concord. Since many textile manufacturing jobs moved overseas, the building has been adapted in the early 21st century for use as the production facilities of Southern Grace Distilleries, Inc

LEGACY AND HONORS
Photographs of the mill and a description were featured in the Negro Exhibit at the Paris Exposition of 1900, in France. The exhibit was organized by American sociologist W. E. B. Du Bois.
In 2001, the section of Highway 601 South near the mill was named "Warren C. Coleman Boulevard" in his honor.
In 2015, the Coleman-Franklin-Cannon Mill was listed on the National Register of Historic Places for its significance as the first African-American owned and operated textile mill.

Sources:
Du Bois, W. E. Burghardt (ed.). Economic Co-operation among Negro Americans. Report of a Social Study made by Atlanta University, under the Patronage of the Carnegie Institute of Washington, D. C., together with the Proceedings of the 12th Conference for the Study of the Negro Problems, held at Atlanta University, on Tuesday, May the 28th, 1907. The Atlanta University Press, Atlanta, 1907. pp. 159-160.
"White lightning set to strike Concord with moonshine distillery", Independent Tribune
Durden, Robert F. The Dukes of Durham, 1865-1929. Duke University Press, 1975. 147.
Thompson, Holland. From the Cotton Field to the Cotton Mill. Ayer Publishing, Manchester, NH, 1971 (reprint of 1906 edition)
Richings, G. F. Evidences of Progress Among Colored People. Geo. S. Ferguson Co., Philadelphia, 1905. 483.
Reports of the Industrial Commission, by the United States Industrial Commission. Volume II. Government Printing Office, Washington, D.C., 1901. 505-8.
Coleman Manufacturing. Cabarrus County NCGenWeb.
Gilman, N.P. "Social Economics at the Paris Exposition", Bulletin of the Department of Labor, Vol. VI, No. 34, May. Government Printing Office, Washington, D.C., 1901. 471.; Prints & Photographs Online Catalog - "African American Photos for Paris Exposition." Library of Congress
Glenn, Gwendolyn (December 8, 2015). "Concord's Coleman Mill, the country's 1st African-American textile mill, gets national recognition". The Charlotte Observer. Retrieved January 24, 2019.